BUS 100

Failure to understand the beliefs and expectations of stakeholders:

Causes the performance-expectations gap to grow larger

Since the mid-1950s the proportion of American workers represented by unions has:

Decreased

Which ethical criterion is described by the idea that a company should strive for efficiency?

Egoism

Corporations that run their operations according to the stakeholder theory of the firm create value by:

Increasing stock price, developing employee professional skills, innovating new products.

The digital divide describes the gap between those:

Individuals who have technology and those who do not.

One of the main reasons that American executives are paid so much is:

Protect shareholders' rights by making sure that stock markets are run fairly.

The "right to be heard" promises that consumers' interests will:

Receive full and sympathetic consideration

Business depends on the community for: a. Education. b. Public services. c. Transportation systems. d. All of the above.

All of the above.

A visual representation of the many links between a lead firm and its suppliers, superimposed on a geographical map is called a:

Supply chain map.

Natural capital refers to the world's:

Supply of geology, soil, air, water and all living things.

Scholars found that spirituality affects employee and organizational performance in what way?

Positively affects employee and organizational performance.

Environmental justice is a movement to:

Prevent inequitable exposure to risk, such as from hazardous waste.

The primary purpose of the International Monetary Fund is to:

The IMF works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Which of the following is (are) core rights of consumers?

The right to safety.

According to a 2016 survey of senior supply chain managers, what is the leading reason to invest in supplier social responsibility?

To create a positive image and enhance brand equity.

Social impacts of global supply chains include:

Wages, working conditions, health & safety.

Sustainable development:

is development that meets the needs of the present without compromising the needs of future generations to meet their own needs.

Rules in the United States that prohibit competitors from secretly dividing up the market amongst themselves are called:

Antitrust laws.

Which of the following is the result of the inseparable relationship between business and society? A. All business decisions have a social impact. B. The vitality of business depends on society's actions and attitudes. C. The survival of business is independent of society.

Both A and B, but not C.

Proponents against corporate social responsibility feel that public officials, not business people, should solve societal problems because:

Business people do not have the skill-set to solve societal problems and The private sector is not mandated to solve these issues.

When working well, the issue management process:

Continuously cycles back to the beginning and repeats

Possible costs of environmental regulation include all of the following except:

Corporate restructuring.

An emerging business model that attempts to strategically balance the interests of all stakeholders to solve social and environmental problems is called:

Corporation

Investors may receive an economic benefit from the ownership of a stock by receiving:

Dividends and capital gains Both B and C, but not A

The amount of land and water a human population needs to produce the resources it consumes and to absorb its wastes given prevailing technology is called:

Ecological footprint.

The directors of a company are a central factor in corporate governance because they:

Exercise formal legal authority over company policy.

The iron law of responsibility says that:

In the long run, those who do not use power responsibly will lose it. Corporations have a role in establishing their community's

An argument in support of high executive compensation is:

Inflated executive pay helps U.S. firms compete with foreign rivals.

A firm that would like to develop a global supply chain would:

Manufacture components or supplies in other countries.

Which one of the following is considered to be a nonmarket stakeholder of business?

Media

Which of the following is not an example of stakeholders' economic power?

A social group protests a government's decision to raise taxes.

The growing diversity in the U.S. workforce is due to: a. Millennials entering the workforce. b. Immigration from other countries. c. Shifting patterns of work and retirement. d. All of the above.

All of the above.

Why should businesses get involved in the community? a. To win local support for business activity. b. To build social capital. c. To meet stakeholder demands. d. All of the above.

All of the above.

A legal right of shareholders is:

voting power, ownership, the right to transfer ownership, dividends, the right to inspect corporate documents, and the right to sue for wrongful acts.

The capability of corporations to influence government, the economy, and society, based on their organizational resources is called:

Big business principle

Some companies have created a department of corporate citizenship to:

Centralize under common leadership wide-ranging corporate citizenship functions

Many rapid changes in technology over the past few decades were facilitated by: A. Wireless networks. B. Artificial intelligence. C. Processing of enormous amounts of data. D. All of these answers are correct

D. All of these answers are correct.

Another term for corporate giving is corporate:

Philanthropy

Representation on the World Bank's board of directors is based on:

The size of the member nation's economy.

People's ethical beliefs come from:

Their religious background, family, and education.

Cooperation between business and government often occurs when:

They encounter a common problem or enemy

When businesses form voluntary, collaborative partnerships with environmental organizations and regulators to achieve specific objectives this is called:

Environmental partnerships.

The unspoken understanding among employees of what is and is not acceptable behavior is called:

Ethical climate

Which of the following is not a goal of consumer protection laws?

Facilitate consumers' getting extended credit when making purchases.

The relationship between business and the community is accurately described by:

It is one of mutual interdependence.

Which of the following are examples of natural monopolies?

Local Telephone Companies. Electricity Companies. College Bookstores. Railroad Companies.

All of the following are external stakeholders of the firm except:

Managers.

A firm in the pollution prevention stage of the corporate environmental responsibility model is best described by which statement?

Minimizing or eliminating waste before it is created.

Proactive companies are:

Much less likely to be blindsided by crises and negative surprises.

An analysis of the stability or instability of a government is an example of scanning which environment?

Political environment

Which of the following is an example of fulfilling social objectives through stock ownership?

Selling stock of companies with a below-market rate of return.

Which of the following examples does not show a company guided by enlightened self-interest?

Company breaking past records by maximizing quarterly profits

Which of the following companies is being the most socially responsible?

Company trying its best to operate in a way which will help local students get education and jobs

Companies demonstrate global corporate citizenship by:

D. Both B/C not A. Finding business opportunities that serve society and integrating concern for both financial and social problems

Why should business be ethical?

Ethics serve as a guide to moral daily living and helps us judge whether our behavior can be justified.

Warning consumers about the possible side effects of pharmaceutical drugs is an example of consumer protection against:

Hazardous products

People everywhere depend on ethical systems to tell them whether their actions are:

Right or wrong

A firm that has global operations has:

Some or all of their manufacturing or service operations abroad. Global market channels involve a firm producing goods in: Their home country and exporting them to other countries.

The Occupational Safety and Health Act gives workers the right to a job:

That is free from recognized hazards that are likely to cause death or serious injury.

A prime social responsibility of business is to safeguard consumers:

While continuing to supply them with goods and services they want.

Stakeholder engagement is, at its core, a:

A relationship

Which of the following statements is true about corporate social responsibility?

Both A and C, but not B. -Correct Answer A. Businesses should monitor and prevent social problems in advance of their becoming major issues. C. Corporations should be accountable for any actions that affect people, their communities, and the environment.

Businesses can reduce income inequality by which action?

Commitment to pay a living wage to all employees

A shared resource, such as land, air, or water, that a group of people uses collectively is a(n):

Commons

Over time, the nature of a business's relationship with its stakeholders often:

Evolves through a series of stages

This U.S. agency enforces the laws prohibiting deceptive advertising:

Federal Trade Commission

An argument that opposes the idea of high executive pay is:

High salaries divert resources that could be used to invest in the business.

A common tactic in a financial-incentive political strategy is:

Political contributions.

Age, ethnicity, gender, mental or physical abilities, race, and sexual orientation fall under which dimension of diversity?

Primary

A large sporting goods store that raised the age for purchase of some firearms in response to public concerns for gun control were seen by detractors as:

Risking their reputation by engaging in politics.

A firm subscribing to the shareholder theory of the firm would mainly be concerned with providing value for its:

Shareholders.

Which type of business community consists of people who work near the company?

Site Community.

A recent study found that, compared to the 1980s, managers today place what importance on moral values, such as honesty and forgiveness?

Slightly more important

Some studies have shown that the burden of complying with safety regulations falls hardest on:

Small businesses.

Which of the following describes why the consumer movement exists?

Some product advertising claims have been inflated. Some businesses have violated the public's privacy.

The core components upon which a company's ethical performance depends include:

The personal character of the managers and employees, the values and virtues of the managers, and the traditions, attitudes, and business practices built into a company's culture.

What is one reason that firms partner with communities to increase economic development?

To develop workplace skills

The five types of stakeholders' power recognized by most experts are:

Voting, economic, political, legal, and informational power

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:

Weak health and safety regulations.

Which statement is not correct about the business-society interdependence?

actions by government rarely significantly affect business

Which of the following is a key feature of effective boards of directors?

Hold regular meetings without the CEO present.

A person's entitlement to protection from invasion of one's personal life is called the:

Invasion of Privacy

A stakeholder analysis:

Involves understanding the nature of stakeholder interests.

Contemporary issue management:

Is an interactive, forward thinking process.

Government regulations help balance negative externalities such as:

No smoking rules enforced to mitigate the effects of second-hand smoke. Regulation can be argued as justified based on: Utilitarian and justice grounds.

Which of the following statements is not true about the population?

Over the next century, population growth is expected to be greatest in developed nations.

Around the world, government:

Sometimes cooperates and sometimes is in conflict with business.

A living wage has been defined as a wage that:

Supports half the basic needs of an average-sized family, based on local prices and equals or exceeds one-and-a-half times the minimum wage established by law.

The term civic engagement describes:

The active involvement of businesses and individuals in improving communities.

Consumers have become more dependent on businesses for product quality because:

The complexity of products makes choices complicated for customers

Social capital is a phrase that refers to all of the following, except:

The norms and networks that enable collective action

Women in the U.S. workforce are accurately characterized by which of these statements?

The participation rate has been between 46 and 47 percent since the late 2000s; and the participation rate has been between 46 and 47 percent since the late 2000s.

Which of the following statements is not true about shareholders?

They own equal shares of company assets.

Intellectual property refers to:

creations of the mind - everything from works of art to inventions, computer programs to trademarks and other commercial signs.

The purpose of the right to be forgotten is to:

reflects the claim of an individual to have certain data deleted so that third persons can no longer trace them

Stakeholder groups can include:

shareholders, employees, trade unions, customers, financial Investors, suppliers, managers and the government.

Communities depend on business for:

support of the arts, schools, health care, follow laws, provides jobs and training, pays taxes, participates in economic development, etc.

Stakeholder engagement is:

the process by which companies communicate and get to know their stakeholders

Buying and selling goods and services electronically is called:

E-business

How can a lead firm improve a supplier's performance when the cost to replace the supplier is high?

Engage the supplier in a capability building

The primary goal(s) of the Food and Drug Administration include:

Ensuring the safety and effectiveness of a wide range of consumer products; and reviewing and approving new products before they are released to consumers.

One argument in favor of affirmative action is:

Affirmative action is discrimination (just in reversed form), and therefore it's wrong

One argument in favor of net neutrality is:

Affirmative action is necessary to create fairness and equal opportunity in organizations because discrimination is so ingrained

In the United States, the federal government regulates which of the following major areas of environmental protection?

Air pollution, Water pollution. and Land pollution.

Businesses are expected to be ethical in their relationships with:

All of the Above: Stockholders. Customers. Competitors

An individual who is a supporter of globalization would argue that it helps the developing world by:

All of the above.

What is one advantage of operating as a B corporation?

Allows companies to hold on to their social mission, while allowing them to scale the business. Since they are for-profit, the company can grow and raise money though still be held to a socially responsible standard

Government's role is to create and enforce laws that:

Balance the relationship between business and society

A technological application that uses biological systems or living organisms to make or modify products or processes for specific use is called:

Biotechnology

One type of digital currency that operates outside the banking system using encrypted technology is:

Bitcoin

Employees in the United States have a legal right to: a. Organize and bargain collectively. b. A safe and healthy workplace. c. A job. d. Both A and B, but not C.

Both A and B, but not C.

The board committee that administers and approves salaries and benefits of high-level managers in a company is called:

Compensation committee

When attempting to build ethical safeguards into the company, businesses can take the following specific approaches:

Compliance & Integrity

Which political action strategy seeks to gain support from other affected organizations to better influence policymakers?

Constituency-building strategy

The place where information is stored, ideas are described, and communication takes place in and through an electronic network of linked systems is called:

Cyberspace

Public policies and government regulations are shaped by:

all the above

Proponents of business as a political participant argue:

Both A and C, but not B.

Which of the following is not a reason for businesses to establish community relations departments?

Manage international relations projects for economic development.

The emergence of a public issue indicates that:

A gap has developed between what stakeholders expect and what an organization is actually doing

The issue management process is a:

A process by which organizations identify issues in the stakeholder environment, analyze and prioritize those issues